Portfolio Lead (Senior Audit Manager) – Market Risk

LLOYDS BANKING GROUP; Bristol; Hybrid; GBP 90,000 - 107,000; Full time

Job summary

A leading banking group is seeking a Portfolio Lead (Senior Audit Manager) for Market Risk to manage audit processes and assure risk management across portfolios. This senior role involves mentorship, collaboration with business leaders, and a focus on continuous improvement to foster a high-performing team culture. The position offers a competitive salary and an inclusive working environment, reflecting the commitment to diversity and employee growth.

Benefits

Generous pension contribution of up to 15%

Annual performance-related bonus

Share schemes including free shares

30 days' holiday plus bank holidays

Wellbeing initiatives and generous parental leave policies

Qualifications

• Expertise in Internal Models Approach and Interest Rate Risk in the Banking Book.
• Experience with Market Risk oversight and Structural Hedging.
• Ability to deliver risk and control assurance effectively.

Responsibilities

• Manage delivery of audits and oversee progress within the portfolio.
• Collaborate with business stakeholders on risk management.
• Coach and mentor team members to enhance performance.

Skills

Knowledge of Market Risk regulatory requirements

Strong understanding of Governance

Ability to analyse and interpret data

Job description

End date Tuesday 22 July 2025

Salary range

We support flexible working

Learn more about flexible working.

Agile Working Options Job Share; Hybrid Working

Job description

JOB TITLE: Portfolio Lead (Senior Audit Manager) – Market Risk

SALARY: £90,440 - £106,400

LOCATION(S): Edinburgh & Bristol

HOURS: Full-time

WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our hub locations.

About this opportunity

As the Portfolio Lead you’ll ensure reliable and high-quality delivery of an assigned area of the audit plan and providing assurance on risk management and internal controls on relevant issues across portfolios.

You’ll be in charge of managing the complete audit process and following up on actions by planning effectively and working closely with others. Maintain quality across the portfolio as needed and offer timely development feedback to all colleagues delivering as a team.

You’ll also contribute to the ongoing development and improvement of GA&CI colleagues through teamwork, collaboration and effective management of resources into change initiatives. Provide career coaching and mentoring to direct report and colleagues in the pool to foster a positive and high-performing team culture.

Responsibilities include:

• Actively supervise the detailed scope and delivery of a significant number of audits in the audit plan and where necessary directly lead particularly complex audits within the portfolio.
  
• Ensure appropriate planning for Audits in your portfolio, including selecting and supporting Engagement Leads who will project manage individual audits on your behalf.
  
• Oversee progress, and manage the quality of audit delivery, make appropriate judgements as to when automated or data driven testing is most effective, and keep Audit and Business leadership informed regarding status, risks and other relevant insights.
  
• Collaborate with resource scheduler to ensure necessary resource allocation to deliver on portfolio.
  
• Engage with, provide assurance and support regarding risk management and effective, efficient internal controls to business stakeholders.
  
• Proactively suggests and delivers innovating thinking by bringing the outside in.
  
• Proactively identify areas for improvement and drive different ways to contribute and shape direction for the team.
  
• Actively role model the Group values and behaviours when managing and leading others.
  
• Act as a career coach, performance manager, or pastoral (line) manager, if applicable, to a number of colleagues within the pool.
  
• Provide timely, direct and effective feedback that contributes to and development of direct reports and other team members.
  

Why Lloyds Banking Group

Like the modern Britain we serve, we’re evolving. Investing billions in our people, data and tech to transform the way we meet the ever-changing needs of our 26 million customers. We’re growing with purpose. Join us on our journey and experience it as well!

What you’ll need:

• Knowledge of Market Risk (MR) regulatory requirements, including Internal Models Approach (IMA), Interest Rate Risk in the Banking Book (IRRBB), and Fundamental Review of the Trading Book (FRTB), as well as market risk oversight and Structural Hedging.
  
• Ability to develop, prioritise and deliver assurance approach for MR across the Group, including setting Market Risk Appetite, identification, measurement, management, monitoring and Reporting.
  
• Ability to document processes, define control monitoring and testing requirements and related data, design of effective Market Risk control framework.
  
• In depth understanding of MR methodologies for different MR types (in particular Market Risk in Trading Book), including Market Risk measures, models, systems, Key Performance Indicators, Early Warning Indicators (EWIs).
  
• Strong understanding and ability over Market Risk Processes reliant on market Risk Models (e.g. VaR models).
  
• Strong understanding of Governance, including governance structure and operation, ability to review and challenge Market Risk Policies, Procedures and other key governance documentation.
  
• Ability to provide assurance over capital requirements for Market Risk (including, Market Risk Pillar 1 capital charges, ICAAP assessments for different types of MR, Stress Testing).
  
• Lead and take ownership for delivery, and championing colleagues' growth and development.
  
• Deliver risk and control assurance activity that is timely, impactful, insightful and valued by others.
  
• Understand and interpret Group and Business Unit Strategy and connect audit delivery and business monitoring insights to such strategies at the Macro level
  
• Analyse, understand and communicate data as information, and to use data to drive effective audit outcomes.
  
• The ability to prioritize your work and that of others effectively to ensure timely and impactful delivery.
  

About working for us

Our focus is to ensure we're inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative. And it’s why we especially welcome applications from under-represented groups. We’re disability confident. So if you’d like reasonable adjustments to be made to our recruitment processes, just let us know

We also offer a wide-ranging benefits package, which includes:

• A generous pension contribution of up to 15%

• An annual performance-related bonus

• Share schemes including free shares

• Benefits you can adapt to your lifestyle, such as discounted shopping

• 30 days’ holiday, with bank holidays on top

• A range of wellbeing initiatives and generous parental leave policies

If you’re excited by the thought of becoming part of our team, get in touch. We’d love to hear from you!